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Catalyst Biosciences announced that the Korean Ministry of Food and Drug Safety, or MFDS, approved the addition of a sixth cohort to the Phase 1/2 trial of CB 2679d in individuals with severe hemophilia B following positive data from the multi-dose Cohort 5 that was disclosed on February 9. Cohort 6 will enroll up to five patients. Each individual will receive a single intravenous loading dose of 75 IU/kg, followed by nine daily subcutaneous doses of 150 IU/kg CB 2679d. The loading dose will be administered 30 minutes before the first subcutaneous dose. The study will be completed in South Korea in coordination with the Company's collaborator ISU Abxis.

CBIOCatalyst Biosciences

$23.90

-0.55 (-2.25%)

06/12/17

06/12/17INITIATION

On The Fly: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. United Technologies (UTX) initiated with a Hold at HSBC. 2. Catalyst Biosciences (CBIO) initiated with a Buy at Chardan. 3. Xoma (XOMA) initiated with a Buy at H.C. Wainwright. 4. Solaris Oilfield (SOI) initiated with a Buy at Seaport Global. 5. Camping World (CWH) coverage resumed with a Buy at BofA/Merrill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

As previously reported, Chardan raised its price target on Catalyst Biosciences to $75 from $10, with analyst Gbola Amusa arguing that data presented at the European Association for Haemophilia and Allied Disorders showed the potential of CB 2679d to become "not just the first subcutaneously-delivered factor IX product in hemophilia B, but also a better overall product." Credible comparisons to Catalyst in the hemophilia B market trade at a minimum market cap of $500M-$600M, said the analyst, who has a Buy rating on the shares.